Oil Giant Shell Announces R$10 Billion in Investments in Brazil

The recent approval to end Petrobras participation requirements is seen as opening opportunities for new players to enter the Brazilian petroleum market.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The day after Brazil’s Chamber of Deputies approved the lifting of participation requirements for Petrobras on all exploration projects, Royal Dutch Shell executives went to Brasilia to talk to Brazilian President, Michel Temer, about the R$10 billion the multinational plans to invest in the country in the next four years.

“We will look at new opportunities, such as next year's auctions and new pre-salt auctions. If there are opportunities, we will look at the possibility of expanding our investments,” said Subscribe to our Premium Membership Plan. Already Subscribed?